Raising Money for Powder Metallurgy Part Manufacturing

Looking for business loans for powder metallurgy part manufacturing? Try the SBA. This $862,000 powder metallurgy part manufacturing loan was issued by an Oklahoma bank.

This small business knew how to go about getting a business bank loan. Based in Tulsa, Oklahoma, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Citizens Security Bank & Trust, based in Bixby, Oklahoma.

SBA Loan Borrower

COMPANY TYPE: POWDER METALLURGY PART MANUFACTURING
TULSA, OK 74107

SBA Loan Lender

CITIZENS SECURITY BANK & TRUST
14821 S MEMORIAL
BIXBY, OK 74008

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332117 - Powder Metallurgy Part Manufacturing

Loan Approval Date

11/15/2007

Loan Approval Gross Amount

$862,000

Loan Approval from the SBA

Of the total $862,000 loan amount, the SBA guaranteed $646,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 21 employees. This SBA loan request indicated that the loan would help retain 21 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citizens Security Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citizens Security Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Borrowing Money from Friends and Family

Banks in Bixby, Oklahoma

Getting an SBA Loan in Oklahoma